The USMCA review: Where is it going? @PetersonInstitute

Uploaded June 2026 | Updated September 2026, 1 week ago

The United States-Mexico-Canada agreement (USMCA), a free trade agreement between the three countries, entered into force in July 2020. The agreement, which replaces the former North American Free Trade Agreement (NAFTA) from 1994, has been an important tool to integrate trade and investment between the three countries and benefited millions of people. The agreement is now up for revision, in the midst of increasing trade tensions across the world. Will there be real revision or a complete renegotiation, or will difficulties drag out the talks for a long time? What are the possible outcomes? How is the geopolitical situation affecting the negotiations, and what are the main hurdles?

HOST

Cecilia Malmström
Nonresident Senior Fellow, PIIE

GUESTS

Kellie Meiman Hock
Senior Counselor, McLarty Associates; Former Director for Brazil and the Southern Cone, Office of the US Trade Representative

Juan Carlos Baker Pineda
Former State Secretary for Trade, Mexico; Fellow, Georgetown Americas Institute

Jeffrey J. Schott
Senior Fellow, PIIE

John M. Weekes
Former NAFTA Chief Negotiator for Canada; Former WTO Ambassador for Canada; Fellow, Canadian Global Affairs Institute

For more information, visit: piie.com/events/2026/usmca-review-where-it-going

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